Palisade Capital Management LP Sells 9,085 Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK)

Palisade Capital Management LP reduced its holdings in Gibraltar Industries, Inc. (NASDAQ:ROCK - Free Report) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 422,143 shares of the construction company's stock after selling 9,085 shares during the quarter. Palisade Capital Management LP owned about 1.42% of Gibraltar Industries worth $24,763,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ROCK. Proficio Capital Partners LLC bought a new stake in shares of Gibraltar Industries in the 4th quarter worth approximately $892,000. Smartleaf Asset Management LLC grew its stake in Gibraltar Industries by 296.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 709 shares of the construction company's stock worth $42,000 after purchasing an additional 530 shares during the period. Bailard Inc. purchased a new stake in Gibraltar Industries in the fourth quarter worth $206,000. Charles Schwab Investment Management Inc. grew its stake in Gibraltar Industries by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 431,415 shares of the construction company's stock worth $25,410,000 after purchasing an additional 20,634 shares during the period. Finally, Keybank National Association OH grew its stake in Gibraltar Industries by 5.0% in the fourth quarter. Keybank National Association OH now owns 7,148 shares of the construction company's stock worth $421,000 after purchasing an additional 343 shares during the period. 98.39% of the stock is currently owned by institutional investors.

Insider Activity at Gibraltar Industries

In other news, Director James B. Nish sold 1,172 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $58.21, for a total value of $68,222.12. Following the sale, the director directly owned 11,976 shares of the company's stock, valued at approximately $697,122.96. This represents a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.50% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen cut Gibraltar Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st.

Gibraltar Industries Price Performance

ROCK stock traded down $1.31 during midday trading on Friday, hitting $60.70. The stock had a trading volume of 128,523 shares, compared to its average volume of 233,986. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 13.95 and a beta of 1.32. The business has a 50-day moving average of $59.05 and a two-hundred day moving average of $59.60. Gibraltar Industries, Inc. has a 52-week low of $48.96 and a 52-week high of $81.90.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last released its earnings results on Wednesday, April 30th. The construction company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.09. Gibraltar Industries had a return on equity of 13.39% and a net margin of 10.22%. The firm had revenue of $290.02 million for the quarter, compared to analysts' expectations of $296.77 million. During the same period in the prior year, the firm posted $0.80 earnings per share. The company's quarterly revenue was down .9% on a year-over-year basis. Research analysts predict that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current year.

Gibraltar Industries Profile

Gibraltar Industries, Inc manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. It operates through four segments: Renewables, Residential, Agtech, and Infrastructure. The Renewables segment designs, engineers, manufactures, and installs solar racking and electrical balance of systems for commercial and distributed generation scale solar installations.